Impact of Branding on Sales turnover in Nigeria

Abstract

One of the prominent marketing strategy employed by organization to glamorize their product is packaging, which is considered to be an integral part of branding. Product packaging is highly effective in communicating brand image to consumer in order to gain traction and sustain consumer interest in a brand. Consumer evaluates product base on its functions, features, and characteristics with emphasis on its packaging because of its aesthetic value. Because of its importance, every organization strive to re-brand its product in order to stay ahead of competition in the market. Organization that fails to continually repackage its product subject itself to losses considering the array of competitive products in the market.

Against this backdrop, this study investigates the impact of packaging on organizational sales turnover. Well-structured questionnaire was employed to gather data from eligible respondents as well as organizations. One hundred respondents were recruited and interviewed for the study using purposive sampling method. Both descriptive and inferential statistics were used to analyze the data, specifically, ordinary least squares regression method was employed. Findings revealed a positive and significant nexus between packaging and organizational sales turnover over the period of study. In addition, the role of packaging is further augmented by other brand factors such as brand name, pricing and promotion, brand reputation. The study recommend that packaging should be targeted at different segment of the market in order to yield maximum returns.

Keywords: Packaging, Brand name, Pricing, Promotion, Brand Image, Brand identity

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